Peter Brandt’s Bold Bitcoin Prediction: A 230% Surge Against Gold

Renowned trader Peter Brandt has made a striking prediction for Bitcoin, suggesting that the decentralized digital asset will surge by 230% against gold. Brandt forecasts that the gold-to-Bitcoin ratio will fluctuate over the next 12–18 months before reaching a new high of 100 ounces of gold per BTC.

While it remains uncertain if Brandt’s prediction will come true, a historical comparison between Bitcoin and gold suggests that his forecast is not without merit. Bitcoin has often been referred to as “Digital Gold,” making the comparison between these two assets particularly relevant.

Since its inception, Bitcoin has steadily gained ground against gold, finally surpassing the precious metal in terms of price in 2017. During that year, Bitcoin peaked at $19,649 on December 17. On December 18, 2017, gold traded at $1,264 per ounce before closing at $1,261 per ounce, meaning it took approximately 15.5 ounces of gold to purchase 1 BTC.

Since then, Bitcoin has consistently remained above the price of gold, even during the bear market of 2018–2019 when Bitcoin dropped to a low of around $3,126 in December 2018. In that same month, gold reached a high of approximately $1,283 by December 31, 2018.

In 2020, gold experienced a bull run, which was briefly disrupted by the March 2020 market crash caused by the COVID-19 pandemic. By August 2020, gold had reached a new all-time high of around $2,075 per ounce due to fears of recession and inflation. During this period, Bitcoin traded sideways but reached around $12,341 in the same month.

Both assets had a challenging year in 2022 but managed to rebound in 2023. In May 2024, gold hit an all-time high of roughly $2,449 per ounce and is currently trading around $2,320 per ounce. Bitcoin, on the other hand, reached a high of approximately $74,000 before falling back to $67,210 at the time of writing. Based on these current market prices, it would take about 29 ounces of gold to purchase 1 BTC.

Brandt’s prediction, if realized, would represent a significant shift in the valuation of Bitcoin relative to gold, underscoring the ongoing competition between these two assets in the eyes of investors.

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